v3.26.3
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOW - USD ($)
$ in Millions
3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2026
Sep. 30, 2025
Sep. 30, 2026
Sep. 30, 2025
Dec. 31, 2025
Cash from operating activities:          
Net income $ 2,054.7 $ 1,255.1 $ 4,782.2 $ 3,100.1  
Adjustments to reconcile net income to net cash provided by operating activities:          
Depreciation and amortization 347.8 227.7 1,175.0 673.4  
Stock-based compensation expense     126.6 94.8  
Deferred income tax provision (benefit)     241.7 (40.5)  
Net change in components of working capital     (1,592.5) (435.2)  
Net change in other long-term assets and liabilities     24.2 259.9  
Net cash provided by operating activities     4,757.2 3,652.5  
Cash from investing activities:          
Capital expenditures     (1,104.3) (742.9)  
Proceeds from disposals of property, plant and equipment     6.5 7.6  
Purchases of investments     (1,538.0) (87.4)  
Sales and maturities of investments     723.9 16.3  
Acquisitions, net of cash acquired     (11,055.8) (2,772.2)  
Other, net     (11.5) 0.0  
Net cash used in investing activities     (12,979.2) (3,578.6)  
Cash from financing activities:          
Proceeds from issuance of senior notes and other debt facilities     4,927.2 1,430.0  
Repayments of senior notes and other debt facilities     (2,473.6) (401.3)  
Borrowings (repayments) under commercial paper programs, net     0.0 0.0  
Payment of costs related to debt financing     (11.7) (29.1)  
Purchase of treasury stock     (630.6) (493.9)  
Proceeds from exercise of stock options     297.7 445.4  
Distributions to and purchases of noncontrolling interests     (4.5) (5.5)  
Dividend payments (308.0) (201.2) (922.0) (600.3)  
Other, net     10.5 0.7  
Net cash provided by financing activities     1,193.0 346.0  
Effect of exchange rate changes on cash and cash equivalents     71.5 62.4  
Net (decrease) increase in cash and cash equivalents     (6,957.5) 482.3  
Cash and cash equivalents balance, beginning of period     11,130.6 3,317.0 $ 3,317.0
Cash and cash equivalents balance, end of period $ 4,173.1 $ 3,799.3 4,173.1 3,799.3 $ 11,130.6
Cash paid for:          
Interest     521.0 188.8  
Income taxes, net     $ 1,803.3 $ 827.4